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"We had taken Healy Consultants assistance in incorporating our entities in some of the complicated jurisdictions. Their approach right from the beginning has been very systematic, clear and efficient. It has been a pleasure to work with all of them."

"Thank you Healy Consultants for swiftly project managing my engagement. From the moment I met you in Singapore Healy Consultants attended to my requirements and specific needs. I am more than satisfied with your service. Moreover, your weekly updates allowed me to continue to focus my attention on my global business while trusting you to deliver as promised."

"Thank you Healy Consultants, you were instrumental in setting up of my Hong Kong based company, the whole process was completed in a professional and timely manner."

Terry Skews, CEO Brittany Offshore Limited

"Healy Consultants, a professionally managed firm with clear understanding and knowledge about what client expects from them and delivers the same in a professional and timely manner. Kudos to their team."

"Incorporating any company is comparable to setting the foundation blocks of your new company building, which you aim to build in the best location available. By choosing Healy Consultants you are laying the perfect foundations."

"The one word that defines Healy Consultants is perfect professionalism. If you have Healy to set up your business abroad, you could focus on the operational overhead and let Healy take care of the rest. From Incorporation to Taxation, it’s a one stop solution. Rest assured, you will have the best people in the Industry working for you and providing you with the best possible information and suggestions."

Raja Chakraborty, Director Streamlyn Pte. Ltd.

"Thank you Healy Consultants for successfully project managing our business set up in Kuwait, Lebanon, Qatar and Bahrain."

"When it was time to establish a Space Academy in Singapore, TriVector needed a knowledgeable firm that could not only help us establish our infrastructure, but could also advise on the local and regional business climate. Healy was that firm, which is why we've been satisfied Healy Consultants for almost five years now."

"Healy Consultants were instrumental in the set up of our company. They have continued to provide exceptional support and advice over the years."

Susan Gunnery, Managing Director Qudoss Group

"Healy Consultants is the best firm that we have ever worked with. Through our entire business relationship we were satisfied with provided level of quality and services. Healy Consultants have been responsive and detail oriented which has allowed us to stay focused on our business and not getting distracted with small details."

"Not only did Healy Consultants have expert knowledge of local requirements, they also understood my needs as a foreigner, which is something lacking with the Singaporean consulting firms I spoke to. They drove the process from start to completion. I’m more than satisfied with the service."

Benefits and problems of registering a company in Mexico

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Benefits and problems

Benefits of Mexico company registration

Forming a company in Mexico is easy because:

Registration of a Mexican limited liability company can be completed within three weeks with only 1 director and 2 shareholders, who can be of any nationality. Our Clients will not be required to travel to complete the engagement;

There is no minimum paid-up capital required, although our Firm usually recommends our Clients to contribute at least US$3,200 (MXN50,000) to ensure that the Mexican Public Registry of Commerce of the city of incorporation approves the application for registration of their Mexico business;

Foreign entrepreneurs can hold all their company’s capital in US dollars rather than Mexican peso;

Most industries are fully open to foreign investment.

Our Clients establishing a subsidiary in Mexico will also benefit from the following advantages:

Dividends from one Mexican company to another are 100% corporate tax exempt;

There are no import/export controls levied by the Mexican government on foreign goods/services;

There are no exchange controls in Mexico to hamper the convertibility of Mexican peso into a foreign currency;

The Mexican government offers businesses incentives including i) grants, loans and bank guarantees at the state level and ii) R & D investment grants at the federal level.

Problems of Mexico company registration

Mexico is a high tax jurisdiction with i) a standard corporate tax rate of 30% ii) personal income tax rates of up to 35% iii) Value Added Tax rate of 16%;

Starting a business in Mexico can be difficult for foreigners because:

Mexico is ranked 43rd out of 72 countries in the English Proficiency Index, indicating a low standard of spoken English. Non-Spanish-speaking entrepreneurs will have a hard time working with suppliers and customers;

Mexico has a weak legal system. While contracts are generally upheld, courts are inefficient and vulnerable to political interference, leading to unjust decisions in business dealings;

While electricity is relatively cheap in Mexico, getting electricity for a new building is time-consuming and expensive. Entrepreneurs can expect to wait 3 months and pay US$35,000 if the building requires new electrical line to be laid;

Mexico suffers from a high corruption, being ranked the 95th least corrupt country in the world in the 2015 Corruption Perception Index by Transparency International;

Mexico City, the main business hub in Mexico, is considerably more dangerous than most Western cities. Mexico has more manslaughter convictions annually than any other country in the world;

Exporting and importing products prove to be very expensive for business according to the location of their operations. In Mexico City, the border compliance for imports/exports is almost 3 times higher than the average for OECD high income countries.

Best uses for a Mexico company

Mexico is an excellent place to form a manufacturing and distribution company because:

Mexico has created over one hundred of export processing zones (EPZ, locally known as maquiladoras) which offers many tax incentives, including i) no import/export tax ii) reduced or no corporate tax and iii) no VAT. Mexican EPZ companies are a popular option for entrepreneurs willing to manufacture and export products;

Maquiladoras companies can also benefit from the country’s free trade agreement with the United States and Canada (NAFTA) to export their products and services to these countries, without paying any customs duty. The agreement also reduces red tape associated with exporting to these countries;

Companies registered in Mexico benefit from law labor costs. The average annual salary of a Mexican worker is US$9,000, compared to an average of US$50,000 and US$58,000 for Canada and the USA respectively;

Rents for office space in Mexico City average US$22 per month per square meter. Industrial space costs are much below this level, especially in the Maquiladoras (EPZ companies). Electricity is also cheaply available in Mexico with average rate for industries being US$ 0.06 per Kwh.